What drives the British pound?
Sterling swings on Bank of England policy, UK growth data, and post-Brexit trade dynamics. Each row traces a chain of real events that pushed the pound higher or lower, month by month.
Pound1.36▲ 2.0% · 30d · 16 chains
APR 2APR 14APR 24MAY 1
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Sign upMAY 1 – MAY 31, 2026
MAY 1
Closed: +0.61%
🇬🇧 Interest Rate Hold
2026-05-01
POUND ▲
2026-05-01
The Bank of England held interest rates steady, supporting the pound by maintaining its yield advantage.
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POUND ▲
APR 30
Closed: −0.25%
🇬🇧 Monetary Policy Tightening Signal
2026-04-30
POUND ▲
2026-04-30
Signals of future rate hikes make the pound more attractive to investors, boosting its value.
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POUND ▲
APR 1 – APR 30, 2026
MAY 1
Closed: −0.25%
🇬🇧 Interest Rate Hold
2026-05-01
POUND ▲
2026-05-01
The Bank of England held interest rates steady, supporting the pound by maintaining its yield advantage.
↓
POUND ▲
APR 30
Closed: −0.25%
🇬🇧 Monetary Policy Tightening Signal
2026-04-30
POUND ▲
2026-04-30
Signals of future rate hikes make the pound more attractive to investors, boosting its value.
↓
POUND ▲
APR 24
Closed: −0.27%
🇬🇧 Consumer Demand Rise
2026-04-24
POUND ▲
2026-04-24
Rising consumer demand boosts economic growth, attracting foreign investment and strengthening the currency.
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POUND ▲
🇺🇸 Military Strike
2026-04-20
🌍 Fuel Price Rise
2026-04-20
US military action against Iran disrupted oil shipping routes, reducing supply and pushing prices higher.
🇬🇧 Inflation Rise
2026-04-22
Higher petrol prices increased costs, pushing UK inflation up.
POUND ▲
2026-04-24
Rising inflation expectations lead to anticipated rate hikes, which attract foreign investment and strengthen the currency.
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POUND ▲
🇮🇷 Peace Negotiation
2026-04-24
POUND ▲
2026-04-24
Hopes for US-Iran peace talks boosted investor confidence, strengthening the pound.
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POUND ▲
APR 23
Closed: −0.1%
🇺🇸 Shipping Disruption
2026-04-22
🇮🇷 Geopolitical Tension Rise
2026-04-22
The US maintaining a naval blockade on Iran's trade is viewed by Tehran as an act of war, increasing tensions.
POUND ▼
2026-04-23
Geopolitical tensions between the US and Iran create market uncertainty, reducing demand for the British pound.
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POUND ▼
🇺🇸 Ceasefire Violation Accusation
2026-04-21
🇺🇸 Geopolitical Tension Rise
2026-04-21
Trump's accusation of ceasefire violations directly increased diplomatic strain between the US and Iran.
POUND ▼
2026-04-23
Geopolitical tensions between the US and Iran create market uncertainty, reducing demand for the British pound.
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POUND ▼
APR 16
Closed: −0.01%
🇬🇧 Interest Rate Rise Expectation Decline
2026-04-16
POUND ▼
2026-04-16
When traders expect fewer interest rate hikes, the currency becomes less attractive to investors.
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POUND ▼
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APR 15
Closed: +0.44%
🇺🇸 Diplomatic Negotiation Progress
2026-04-15
POUND ▲
2026-04-15
Progress in US-Iran peace talks boosted optimism, strengthening the British pound.
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POUND ▲
APR 14
Closed: +0.9%
🕌 Diplomatic Negotiation Progress
2026-04-14
POUND ▲
2026-04-14
Hopes for Middle East peace talks improved risk sentiment, boosting demand for the British pound.
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POUND ▲
APR 10
Closed: +0.27%
🇺🇦 Diplomatic Negotiation Progress
2026-04-10
POUND ▲
2026-04-10
Progress in Ukraine-Russia peace talks boosted optimism, making the British pound more attractive to investors.
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POUND ▲
APR 8
Closed: +1.27%
🇮🇷 War De-Escalation
2026-04-08
POUND ▲
2026-04-08
A US-Iran ceasefire reduced Middle East tensions, boosting risk appetite and causing the British pound to rise.
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POUND ▲
APR 6
Closed: −0.33%
🇺🇸 Military Strike
2026-04-06
🇮🇷 Conflict Escalation
2026-04-06
US threats and conflict escalation directly increase tensions with Iran.
POUND ▼
2026-04-06
Geopolitical tensions in Iran increase uncertainty and push up oil prices, weakening the British pound.
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POUND ▼
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APR 2
Closed: +0.45%
🇺🇸 Military Strike Announcement
2026-04-02
POUND ▼
2026-04-02
Trump's military strike announcement increased Middle East uncertainty, causing investors to sell the British pound.
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POUND ▼
APR 1
Closed: +0.54%
🇮🇷 Military Conflict De-Escalation Expectation
2026-04-01
POUND ▲
2026-04-01
The pound rose because optimism grew about a potential resolution to the Iran conflict.
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POUND ▲
MAR 31
Closed: −0.5%
🕌 Conflict Escalation
2026-03-31
POUND ▼
2026-03-31
Escalating Middle East tensions caused traders to sell the British pound due to economic uncertainty.
MAR 30
Closed: −0.17%
🇺🇸 Military Operation Preparation
2026-03-30
POUND ▼
2026-03-30
US military preparations increased risk aversion, causing traders to sell the British pound.
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